Bitfinex exchange
2012
Not available
www.bitfinex.com
201-500
Cryptocurrencies, Credit/debit card, Bank transfer
yes
yes
no
yes
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no
Bitfinex has 0.1% maker fee and 0.2% taker fee. Minimum fiat deposit fee is $60, but for bigger amounts just 0.1%. USDT, DOGE and DOT withdrawals are free.
0.1% (minimum $60) / n/a
n/a
0.1% / 0.2 %
There are fee discounts based on your trading volume. Also newly listed token trading fees are lower
Bitcoin: 0.0004 BTC
Ethereum: 0.0016695 ETH
Tether: 0 USDT
Binance Coin: 0 BNB
Cardano: 0.3 ADA
Solana: 0 SOL
Ripple: 0.1 XRP
Polkadot: 0 DOT
Dogecoin: 0 DOGE
Shiba Inu: 288890 SHIB
Stellar: 0 XLM
Litecoin: 0.001 LTC
There are three tiers to Bitfinex identity verification process: Tier 1: Full name, DOB, country of residence and phone number. Tier 2: Residential address (and a utility bill as proof), Government ID (passport, national ID card). Tier 3: Proof of income, Source of wealth
You need to get verified before you can deposit/trade/withdraw.
required
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yes
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10x
yes
yes
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no
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yes
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yes
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All except for USA, Syria, North Korea and some other countries
USA, Syria, North Korea and some other countries. Full list available on Bitfinex website
Platform for pros - Bitfinex is a top exchange which could be best for professional traders.
Bitfinex exchange review
Bitfinex is one of the oldest exchanges in the world, Bitfinex has since established a quite good reputation.
Of course, Bitfinex does have its drawbacks, such as a limited number of accepted payment methods, and relatively low amount of cryptocurrencies.
Bitfinex exchange bonuses
Bitfinex does not offer any bonuses or promotions to its users.
Bitfinex exchange safety and regulation
Is Bitfinex exchange safe to use
Despite being hacked in 2016 and losing almost $70 million worth of Bitcoin, Bitfinex has since taken significant measures to improve its security protocols.
This includes the implementation of a mandatory two-factor authentication and the adoption of a cold storage system for storing user funds.
However, it's important to note that no cryptocurrency exchange is 100% secure, and you should always take precautions to safeguard your funds.
Bitfinex exchange licenses
Bitfinex has a license from El Salvador's National Digital Asset Commission.
Bitfinex exchange account security options
Bitfinex provides users with various security options to protect their account, including two-factor authentication, Universal 2nd Factor (U2F), and API key restrictions.
Additionally, users can enable IP address whitelisting and withdrawal confirmations to add an extra layer of security.
Deposits and withdrawals
Does Bitfinex exchange have a withdrawal limit?
Yes, Bitfinex has a withdrawal limit of $500,000 per day for verified accounts.
How to deposit money into Bitfinex exchange?
Bitfinex allows users to deposit funds via bank transfer, cryptocurrency, and credit/debit cards. However, it's important to note that credit/debit card deposits are not available for users from the United States.
To make a deposit, click on the Wallet button and choose deposit. Then just follow the instructions.
How to withdraw from Bitfinex exchange?
Users can withdraw their funds from Bitfinex the same way, just choose Withdraw from the Wallets menu.
Bitfinex exchange fees
Deposit fees
Bitfinex charges no deposit fees for most cryptocurrencies, but fiat deposits may be subject to specific fees depending on the payment method used. But in general it is 0.100% (min 60, USD/Euro). Bank Wire using OpenPayd costs 0.5 (Euro|GBP)/transaction.
Withdrawal fees
Withdrawal fees on Bitfinex vary depending on the specific cryptocurrency and the amount being withdrawn. Fiat withdrawals may also be subject to specific fees, depending on the payment method used. They cost 0.1% to 1% (min USD 60)
Trading fees
Bitfinex's trading fees are determined by 30-day trading volumes, with fees ranging from 0.1% to 0.02%. But base maker fee is 0.1% and base Taker fee is 0.2%.
Trading on Bitfinex exchange platform
Bitfinex offers a wide range of trading options, including margin trading, lending, and spot trading. The platform also provides users with advanced tools and order types, such as stop-limit orders and trailing stop orders.
How high leverage does Bitfinex exchange offer?
Bitfinex offers margin trading with up to 10x leverage.
Bitfinex exchange KYC
Do you have to verify your account on Bitfinex exchange?
Yes, Bitfinex requires users to verify their identity to comply with anti-money laundering (AML) and know-your-customer (KYC) regulations.
How to verify your Bitfinex exchange account?
To verify your Bitfinex account, you need to provide your name, address, date of birth, and a government-issued photo ID. There are three different KYC levels.
Why and when should you verify your Bitfinex exchange account?
Users should verify their Bitfinex account to avoid any potential withdrawal or deposit limitations. Verification is required for users who wish to trade, deposit or withdraw fiat currencies.
Bitfinex exchange app
Bitfinex offers a mobile app for iOS and Android users, which provides access to all of the features of the web-based platform.
Bitfinex exchange earn
Bitfinex currently offers staking and lending options.
Bitfinex exchange Customer support
Bitfinex provides users with various customer support options, including email support and a live chat feature. The platform also features a comprehensive knowledge base.
Pros and cons of using Bitfinex exchange
Pros | Cons |
|---|---|
Competitive fees | Somewhat limited crypto selection |
Margin trading | High fiat payment fees |
Fairly high liquidity | US traders are not accepted |
Exchange with long history | Has had its share of problems in the past |
Is Bitfinex exchange simple to use?
Although Bitfinex offers a user-friendly interface, it may take time for novice traders to fully understand the their advanced trading features.
Which countries does Bitfinex exchange accept people from?
Bitfinex allows users from most countries to register on the platform, with the exception of users from the United States, Canada, and Japan.
Can people from USA, Canada, and Japan use Bitfinex exchange?
No, users from the United States, Canada, and Japan are currently prohibited from using Bitfinex.
What do traders think about Bitfinex exchange based on other reviews and comments?
Traders generally have positive feedback about Bitfinex, but there are many people who are saying they are having issues getting their identity verified. People also don't like the high fiat payment fees.
Conclusion: Is Bitfinex exchange right for you?
Overall, Bitfinex is a good cryptocurrency exchange with a wide range of trading options and advanced features.
While Bitfinex's security protocols have improved since its 2016 hack, cryptocurrency trading inherently carries some risk, and users should always proceed with caution.
Top 3 Alternatives to Bitfinex
If this exchange is not for you, find alternative low fee exchanges below:
I became interested in cryptocurrencies only a bit more than two years ago. Since then I have been in investing in cryptos using different exchanges. And I also launched Cryptolorium.com when I started trading, just to share my crypto journey and my results.